IBM PLM operations acquired by Dassault Systèmes have been merged into the Company’s operations within its PLM business segment since April 1, 2010. As previously disclosed, the IBM PLM share of Dassault Systèmes software revenue was estimated at approximately €50 million for the 2010 first quarter.
| In millions of Euros, except per share data | IFRS | Non-IFRS | ||||||||||||||||||||||
| Change | Change in cc* | Change | Change in cc* | |||||||||||||||||||||
| FY 2011 Total Revenue | 1,783.0 | 14% | 16% | 1,783.5 | 13% | 14% | ||||||||||||||||||
| FY 2011 Software Revenue | 1,616.9 | 15% | 16% | 1,617.4 | 13% | 15% | ||||||||||||||||||
| FY 2011 EPS | 2.33 | 28% | 2.92 | 17% | ||||||||||||||||||||
| FY 2011 Operating Margin | 24.0% | 30.4% | ||||||||||||||||||||||
|
*In constant currencies. |
||||||||||||||||||||||||
| In millions of Euros | IFRS | Non-IFRS | ||||||||||||||||||||||
| FY 2011 | FY 2010 | Change in cc* | FY 2011 | FY 2010 | Change in cc* | |||||||||||||||||||
| Total Revenue | 1,783.0 | 1,563.8 | 16% | 1,783.5 | 1,580.0 | 14% | ||||||||||||||||||
| Software Revenue | 1,616.9 | 1,411.0 | 16% | 1,617.4 | 1,427.2 | 15% | ||||||||||||||||||
| Services and other Revenue | 166.1 | 152.8 | 10% | 166.1 | 152.8 | 10% | ||||||||||||||||||
| PLM software Revenue | 1,275.9 | 1,099.5 | 17% | 1,276.4 | 1,115.7 | 16% | ||||||||||||||||||
| SolidWorks software Revenue | 341.0 | 311.5 | 12% | 341.0 | 311.5 | 12% | ||||||||||||||||||
| Americas | 488.8 | 456.5 | 12% | 488.8 | 461.8 | 11% | ||||||||||||||||||
| Europe | 827.1 | 702.9 | 18% | 827.3 | 709.2 | 17% | ||||||||||||||||||
| Asia | 467.1 | 404.4 | 15% | 467.4 | 409.0 | 14% | ||||||||||||||||||
|
*In constant currencies. |
||||||||||||||||||||||||
- Total revenue increased 16% (IFRS) and increased 14% (non-IFRS) primarily driven by software revenue growth of 16% (IFRS) and 15% (non-IFRS), respectively, and by services and other revenue growth of 10%. (All figures in constant currencies.)
- Europe, Asia and the Americas all posted double-digit revenue growth in constant currencies for 2011. Europe saw a very good dynamic in its largest markets, such as Germany, and in many industries notably Automotive. The Americas benefited from growth in PLM in new industries such as Energy. In Asia, faster growing markets led by very strong performances in China, among others, drove the year-over-year growth.
- IFRS and non-IFRS new licenses revenue increased 20% in constant currencies. The increase in new licenses revenue in 2011 reflected a strong level of customer demand for 3D and PLM applications across all three sales channels, including large customers and in the SMB market. The Company saw a substantial increase in activity in its core industries, with automotive and aerospace posting end-user new licenses revenue growth of over 20% in constant currencies in 2011.
- Recurring software revenue increased 15% (IFRS) and 13% (non-IFRS) in constant currencies benefiting from growth in maintenance from new licensing activity, high renewal rates, the IBM PLM acquisition and growth in rental licensing. Recurring software revenue represented 71% of total software revenue in 2011.
- IFRS PLM software revenue increased 17%. Non-IFRS PLM software revenue increased 16% with CATIA up 16%, ENOVIA higher by 14% and Other PLM increasing 18% led by SIMULIA and DELMIA. (All figures in constant currencies.)
- SolidWorks software revenue increased 12% in constant currencies on strong sales of its design, product data management and simulation software. New SolidWorks commercial seats licensed in 2011 rose 14% to 47,905 seats. Total SolidWorks commercial and educational seats sold exceeded 1.7 million seats at the end of 2011.
- IFRS operating income increased 32.9% to €427.9 million and the operating margin improved to 24.0% from 20.6%. On a non-IFRS basis, operating income increased 20.1% to €542.6 million. The non-IFRS operating margin widened by 180 basis points to 30.4%.
- Net income per diluted share grew 28.0% to €2.33 (IFRS) and 16.8% to €2.92 (non-IFRS) per share on a strong increase in operating income.
